TAIPEI (Taiwan News) — Chunghwa Post Chair Wang Kuo-tsai (王國材) said Tuesday the company expects to earn more than NT$2 billion (US$62 million) this year.

Wang said Chunghwa Post is undergoing reforms to ensure business sustainability. He said the company must undergo digital transformation to improve its delivery and banking services, per CNA.

Wang emphasized the importance of online insurance services due to low in-person customer numbers. Additionally, Chunghwa Post will integrate its debit cards with mobile payments by next June, per UDN. 

According to Wang, iBox usage is low. He said the 2,408 iBox services in Taiwan need upgrading, and 3,700 unmanned stores are expected to be launched nationwide.

Wang also hopes to boost stamp collecting. He said 150,000 postcards for this year's WBSC Premier12 were sold, and 20,000 stamp booklets were pre-ordered.

Wang said Chunghwa Post will continue to expand its online business. Postmall will focus on selling Taiwanese souvenirs and Taiwan-themed products, he added.

Chunghwa Post reported a loss of NT$1.65 billion last year, marking its first deficit. The reasons included a 15% drop in delivery revenue and declining insurance sales due to a surge in Taiwan's stock market and rising deposit rates, per Yahoo News.